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Measures to promote supply are needed, but the resulting new-build supply won't be cheap.
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Property prices are falling in a majority of Canadian cities.
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You won't necessarily see a 28 per cent reduction in sticker value, however.
The Red Pin
The city is now a buyer’s market, TD Bank says.
Bank of Canada
Incredibly, there are still bargains to be had in some places.
A strong economy can't explain the Toronto region's house price growth, the bank says.
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Sales fell 20.3 per cent last month, but prices are still higher than a year ago.
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Winning the housing market game can be viewed in a number of ways. To some, winning means getting the home they love -- at any cost. To the smart buyers out there, winning means knowing the difference between good value and over-value, and making a sound purchasing decision that you can live with for years to come.
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Soaring housing costs are a potential threat to Toronto's economy, the city's board of trade says.
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The biggest threat to our strong real estate market and local economy is a generation of buyers who, in pursuit of the housing dream, throw caution to the wind, assume a crippling mortgage, and take on more debt than they can handle.
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Is the beginning of the end for Toronto's long-running housing boom?
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"It's a risk we've been highlighting."
The rules will tackle the affordability problem buyers and renters are facing.
The province's finance minister fears speculators are crowding out actual homebuyers in southern Ontario.